Clean Power Hydrogen plc Announces Retail Offer for £0.3 million
Key Ideas
- Clean Power Hydrogen Plc is launching a Retail Offer for up to £0.3 million through the issuance of new ordinary shares at £0.01 each.
- The Retail Offer consists of 4,000,000 new Ordinary Shares at a price of 7.5 pence per share, representing a discount to the existing share price.
- Proceeds from the Retail Offer will be utilized in the same way as the funds raised through a conditional placing and subscription of new Ordinary Shares.
- The Retail Offer is part of a broader fundraising initiative that includes a Placing and Subscription, all subject to shareholder approval at a General Meeting.
Clean Power Hydrogen Plc has announced a Retail Offer for up to £0.3 million through the issuance of new ordinary shares priced at 7.5 pence each. This offer is part of the company's strategy to raise funds and engage with its retail shareholder base. The Retail Offer, which includes 4,000,000 new Ordinary Shares, is set at a discount compared to the closing share price prior to the announcement. The company also plans to raise an additional £6.0 million through a conditional placing and subscription of new Ordinary Shares. The Retail Offer and the broader fundraising initiative are subject to shareholder approval at a General Meeting. The Retail Offer will be facilitated by Cavendish Capital Markets Limited as the retail offer coordinator, with existing retail shareholders in the UK being given the opportunity to participate. The proceeds from the Retail Offer will be used similarly to the funds raised through the Placing and Subscription. The timeline for the Retail Offer includes opening on 18 December 2024 and culminating in Admission and dealings on the AIM market on 9 January 2025. The Company values its retail shareholder base and aims to provide them with an opportunity to engage in the Retail Offer through designated financial intermediaries.